In line with a recent news ‘published‘ by ‘Nikkei Asian Review’, Japan’s FSA [Financial Services Agency] has supposedly approved a cryptocurrency exchange operational license for hacked crypto exchange named ‘Coincheck’.
As per Nikkei, an announcement from the monetary watchog is reportedly due to be released by the end of the year.
As reported earlier,, the FSA has expanded its scrutiny of domestic crypto exchanges within the wake of the industry-record-breaking $532 Mln theft of NEM tokens from Coincheck’s digital wallets, in January this year.
While a license has been necessary for all crypto exchanges operational within Japan since the amendments of the country’s Payment Services Act back in April 2017, the FSA has continued to ratchet up necessities for candidates throughout 2018; some 160 candidates were reported to still be awaiting a call on an operational license as of mid-Oct., and moreover as 200 today, as per Nikkei.
Following the recent ‘hack‘, Coincheck received 2 business improvement orders from the FSA, with a specific focus on modifying its existing client protection and AML [Anti-Money-Laundering] measures. The exchange additionally decided to rehaul its shareowner composition and management, becoming an entirely closely-held subsidiary of Monex Group in mid-April.
Under the new post of Monex, Nikkei reports the FSA has currently supposedly judged that protection measures and alternative important systems at the exchange have currently been sufficiently improved to warrant a replacement new license. Aboard these enhancements, Coincheck revised which cryptocurrencies it’ll manage, and additionally reimbursed those customers affected by the hack.
Earlier in Nov., Coincheck resumed ‘NEM‘ commercialism, and opened support for Ethereum [ETH] and Lisk [LSK]. It additionally joined the Japan Security Association within a bid “to renovate its image.”